CARIBCAN was established between Canada and CARICOM countries in 1986 to provide one-way duty-free access into the Canadian market for commodities that satisfy certain rules of origin requirements. However, after seven rounds of unsuccessful negotiations of a free trade agreement, the World Trade Organization extended the CARIBCAN waiver until 2023. A free trade agreement … [Read more...] about Are CARICOM and Canada Good Trading Partners?
Economy & Investment
Why we need Economic Diversification in Trinidad and Tobago
Economic diversification in Trinidad and Tobago is imperative, although diversification away from the energy sector has largely failed. A country with a perfectly diversified export portfolio will have an index close to 0 (most diversified), whereas a country that exports only one product or to one country will have a value of 1 (least diversified). In Trinidad and Tobago, … [Read more...] about Why we need Economic Diversification in Trinidad and Tobago
Are Governments an Advantage for Some Firms, Yet a Disadvantage for Others?
Although many business owners lament the rampant corruption in the Caribbean, the term corruption can range from bribery (whereby government officials demand illicit payments from individuals or businesses to perform an official task) to unproductive rent-seeking (whereby bureaucrats and parliamentarians favor certain private interests for their legal or illegal lobbying. This … [Read more...] about Are Governments an Advantage for Some Firms, Yet a Disadvantage for Others?
AGRIMONITOR: Learn the effects of agricultural policy, food security and climate change in Latin America and the Caribbean!
By Rachel Boyce and Carmine Paolo De Salvo https://youtu.be/5iA3EeZFpmY For many Caribbean countries, the agricultural sector is still of significant importance. Rice production in Suriname and Guyana, for example, represents crucial economic activity for these countries. However, on a whole, Caribbean agriculture is facing substantial challenges. This is in part due to … [Read more...] about AGRIMONITOR: Learn the effects of agricultural policy, food security and climate change in Latin America and the Caribbean!
Brain Drain: A Curse of Small States?
The rate of skilled emigration from small states and territories, defined either by territory size, population size, national income or some combination thereof, tends to be persistently high over time. Docuquir and Schiff (2008) found that small states had a brain drain rate five times that of all developing countries, twelve times that of high-income countries, and eight … [Read more...] about Brain Drain: A Curse of Small States?